NEWTON COUNTY, TX (KTRE) - International Paper announced its plans to sell its Scrappin' Valley property to Gillespie & Partners in Nacogdoches Thursday. The transaction for the 11,213-acre property in northern Newton County is expected to close in September.
"I am happily satisfied with the overall process and outcome with the Scrappin' Valley Auction," Lloyd Gillespie said in a press release. "I look forward to enjoying the incredible beauty and uniqueness that the property has. I want to ensure the integrity of the Red-Cockaded Woodpecker program for years to come."
The property is located in a heavily wooded area, and it includes a lodge facility and conference center with amenities like tennis courts, a sporting clay course, stocked fishing lakes, trails, and an airplane runway. According to the press release, Scrappin' Trails is used primarily for employee and customer retreats.
"The former Temple-Inland property is situated within the Longleaf Ridge conservation area, a high priority conservation area consisting of a narrow belt of land that parallels the Gulf Coast shoreline that harbors some of the last intact and bio-diverse longleaf pine woodlands," the press release stated.
International Paper has manufacturing operations in North America, Europe, Latin America, Russia, Asia, and North Africa. Headquarterd in Memphis, Tenn., the company employs approximately 70,000 people, worldwide.